Business

Government and UNDP map out SDG investment for private sector to support recovery

Published

3 years ago

2022/09/1

The Government of Sri Lanka and UNDP in Sri Lanka announced the launch of the Sri Lanka SDG Investor Map (the Map), a market intelligence tool that seeks to direct private capital where Sri Lanka’s Sustainable Development Goals (SDG) priorities, Government policy and market opportunity intersect, as the country seeks to rebuild its economy sustainably, using the SDG framework as its guide. The methodology for the Map was created by UNDP SDG Impact.

Like many other countries, the Sri Lankan economy was also impacted by the COVID-19 pandemic with GDP growth contracting 3.6% in 2020 with a significant slowdown in tourism earnings which is a key source of dollar income for the country. Sri Lanka is building pathways to recover from its double crisis of sovereign debt and a balance of payment crisis, making it difficult to import essential items such as medicines, fuel and food. The current public debt is 140% of GDP and Sri Lanka’s plan is bring it down to less than 100% by 2032.

While Sri Lanka is pursuing an IMF program to stabilize its macro-economy and restructure its external debt, private capital, foreign direct investments, blended finance options and public-private partnerships, are all needed. The SDG Investor Map will be of importance when channeling these funds to investments for social and environmental objectives- towards green development, women’s economic empowerment, social sector development (example: health).

The Map will be a crucial tool to accelerate Sri Lanka’s recovery pathway and build forward better. The Map can be used by:

Investors wishing to explore Sri Lanka as an investment destination while also rendering benefits for local communities and the environment

Enterprises that want to adjust their business strategy towards inclusive models and are seeking market intelligence and investment rationale to validate their approach

Government agencies seeking to address entry level barriers for the private sector and to build an amenable ecosystem for the development of SDG enabling sectors

In Sri Lanka, the Map was the result of a strong collaboration between UNDP and Sri Lanka’s Sustainable Development Council, the nodal government institution responsible for coordination, facilitation, monitoring, evaluation and reporting on the implementation of the 2030 Agenda for Sustainable Development in Sri Lanka. Sri Lanka’s apex investment promotion agency, the Board of Investments (BOI) of Sri Lanka, also provided input and validation during the development of the Map and is a key partner for the Map’s launch. Through secondary research and over 50 consultations with public and private sector organizations, the Map has identified 15 Investment Opportunity Areas (IOAs) that cover investment themes and business models across 5 SDG priority sectors: Renewable Energy, Healthcare, Infrastructure, Food & Beverages and Consumer Goods.

At the event, UNDP called on the private sector to adopt the SDG Impact Standards, the independent and global management standards that guide businesses and investors in their decisions to optimize interrelated economic, social and environmental impacts. The forthcoming SDG Impact Standards Assurance Framework and SDG Impact Seal recognizes investors and enterprises who are more likely to be contributing positively to sustainability, reducing the risk of impact-washing.

Speaking at the event, Mr. W.A. Sarath Kumara, Deputy Secretary Treasury, Ministry of Finance stated, “Sri Lanka’s commitment to achieving the SDGs is explicit in our continued pursuit of national policies and development plans and programmes in alignment with SDGs over the years. Innovative financing mechanisms become imperative to synergize the government, private sector, and capital markets to generate the additional resources needed to finance the SDGs. The SDG Investor Map is therefore a timely intervention that would provide the potential investors with the required market information relating to potential investment opportunity areas.”

Highlighting how the map will inform Sri Lanka’s efforts to rebuild its economy sustainably, H.E. Ms. Hanaa Singer-Hamdy, Resident Coordinator, United Nations in Sri Lanka, said “a whole-of-society approach is needed to mitigate the immediate impacts of Sri Lanka’s economic crisis and assure the country’s long-term sustainable development. The Sri Lanka SDG Investor Map offers a compelling pathway for private sector entities to increase the alignment of their investments with the SDGs. It complements the recently launched United Nations Sustainable Development Cooperation Framework 2023–2027 by translating relevant country-level SDG gaps and priorities into private sector investment opportunities that will have lasting impacts on lives and livelihoods across the country.”

Commenting on the collaboration, Ms. Chamindry Saparamadu, Director General, Sustainable Development Council stated, ‘Partnerships underpin the success of the 2030 Agenda for Sustainable Development. Each stakeholder has particular strengths to bring to bear in delivering on the SDGs. Partnership and collaboration between the Sustainable Development Council and the UNDP in creating Sri Lanka’s first ever SDG Investor Map provides a classic example of how the strengths of each agency was leveraged to produce an innovative solution that could help bridge the financing gap for SDGs in Sri Lanka’.

Highlighting UNDPs role, Ms. Malin Herwig, Officer-In-Charge, UNDP in Sri Lanka commented, “The SDG Investor Map has provided us market intelligence on SDG aligned investment opportunities for Sri Lanka at this critical juncture. UNDP together with the Government of Sri Lanka, through the Map, calls for development partners, IFIs and private impact investors to come together to formulate financing solutions to contribute to the country’s recovery and SDG acceleration.”

Ms Fabienne Michaux, Director of SDG Impact concluded, “While there is much to be done, there is a great opportunity for the private sector to integrate sustainability and the SDGs into their investments and businesses to help Sri Lanka build forward better. The Sri Lanka SDG Investor Map has done a large part of the leg-work by identifying those sectors that will have the most development impact and that are aligned to the Government’s SDG targets. This coupled with the adoption of the SDG Impact Standards which guides the private sector to manage their impact, will further the country’s ability to build a more resilient future, leaving no one behind”.

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Business

Beira Lake restoration, ‘a crucial urban environmental intervention’

Published

21 hours ago

2026/01/21

Thilina Walpola

The Beira Lake; in for a clean-up

Sri Lanka’s decision to invest Rs. 2.5 billion in restoring the heavily polluted Beira Lake marks one of the most significant urban environmental interventions in recent years, underscoring a growing recognition that ecological rehabilitation is also an economic imperative.

The multi-pronged project—covering the closure of illegal sewage discharge points, large-scale dredging, and the installation of aeration systems—is expected to not only revive aquatic life but also unlock commercial, tourism and real estate value in the heart of Colombo.

Officials say the initiative is designed to transform Beira Lake from a long-neglected liability into a productive urban asset.

A senior official from the Ministry of Environment told The Island Financial Review that untreated wastewater and illegal sewer connections had been the primary contributors to the lake’s degradation for decades. “Closing these illegal sewage points is the most critical intervention. Without that, any dredging or aeration would only offer temporary relief, the official said, adding that enforcement will be carried out in coordination with the Colombo Municipal Council (CMC) and other regulatory agencies.

From a business perspective, the clean-up is being viewed as a catalyst for urban regeneration. Urban Development Authority (UDA) sources noted that a healthier Beira Lake would significantly enhance the attractiveness of surrounding commercial developments, hospitality projects and public spaces. “Environmental remediation directly impacts land values and investor confidence. A clean, living lake changes the entire economic profile of the area, an UDA official said.

The dredging component of the project is aimed at removing decades of accumulated sludge, which has reduced water depth and contributed to foul odours and fish die-offs. According to officials involved in project planning, the dredged material will be disposed of following environmental guidelines to avoid secondary pollution risks—an issue that has undermined similar efforts in the past.

Meanwhile, the installation of modern aerators is expected to improve dissolved oxygen levels, a key requirement for sustaining fish and other aquatic organisms. “Restoring aquatic life is not just about biodiversity; it is about creating a water body that can safely support recreational activities and public engagement, a senior CMC engineer explained.

Economists point out that the Rs. 2.5 billion allocation, while substantial, should be seen against the long-term cost savings and revenue potential. Reduced public health risks, lower water treatment costs downstream, increased tourism activity and higher commercial footfall could deliver returns that far exceed the initial outlay.

By Ifham Nizam

Business

Expectation of positive Q3 corporate results jerks bourse to life

Published

21 hours ago

2026/01/21

Thilina Walpola

CSE activities kicked off on a negative note initially but later experienced some recovery yesterday because most investors were anticipating positive third quarter result shortly, market analysts said.

Amid those developments, the market indicated mixed reactions. The All Share Price Index went down by 4.13 points, while the S and P SL20 rose by 14.02 points. Turnover stood at Rs 5.17 billion with 11 crossings.

Top seven crossings were reported in Renuka Holdings where eight million shares crossed to the tune of Rs 324 million; its shares traded at Rs 40.50, Tokyo Cement one million shares crossed to the tune of Rs 113 million; its shares traded at Rs 113, Distilleries 1.85 million shares crossed for Rs 111 million; its shares traded at Rs 60, ACL Cables 500,000 shares crossed for Rs 51.5 million, its shares sold at Rs 103 Chevron Lubricants 250,000 shares crossed for Rs 47.5 million; its shares traded at Rs 190, Ambeon Capital 738600 shares crossed at Rs 40.50 each and Melstacope 150,000 shares crossed for Rs 27 million; its shares traded at Rs 180.

In the retail market top seven companies that mainly contributed to the turnover were; Colombo Dockyard Rs 1.26 billion (12 million shares traded), ACL Cables Rs 348 million (3.3 million shares traded), HNB (Non-Voting) Rs 152 million (425,000 shares traded), Hayleys Rs 109 million (507,000 shares traded), Tokyo Cement (Non-Voting) Rs 94 million (989,000 shares traded) Lanka Realty Investments Rs 80 million (1.6 million shares traded) and Sampath Bank Rs 77 million (498,000 shares traded). During the day 135 million share volumes changed hands in 38398 transactions.

It is said that manufacturing sector counters, especially Tokyo Cement and ACL Cables, performed well. Further, Colombo Dockyard became the most preferred share for investors. The Banking sector also performed well.

Browns Beach Hotels said that the company will delist from the CSE, having made arrangements with majority shareholders Melstacope and Aitken Spence Hotel Holdings to buy back shares from minority shareholders at an exit offer price of Rs 30.

Yesterday the rupee was quoted at Rs 309.75/85 to the US dollar in the spot market, from Rs 309.72/77 the previous day, having depreciated in recent weeks, dealers said, while bond yields were down.

A bond maturing on 15.05.2026 was quoted at 8.25/35 percent.

A bond maturing on 15.02.2028 was quoted at 9.00/10 percent, down from 9.05/10 percent.

A bond maturing on 15.12.2029 was quoted at 9.65/70 percent, up from 9.65/69 percent.

A bond maturing on 01.03.2030 was quoted at 9.72/75 percent, from 9.70/76 percent.

A bond maturing on 15.03.2031 was quoted at 9.95/10.00 percent, down from 10.00/10 percent.

A bond maturing on 01.10.2032 was quoted at 10.30/50 percent.

A bond maturing on 01.06.2033 was quoted at 10.72/75 percent, down from 10.70/80 percent.

A bond maturing on 15.06.2035 closed at 11.05/10 percent, down from 11.07/11 percent.

The telegraphic transfer rates for the American dollar were 306.2500 buying, 313.2500 selling; the British pound was 409.9898 buying, and 421.3080 selling, and the euro was 354.1773 buying, 365.5655 selling.

By Hiran H Senewiratne

Business

Ceylon Theatres and British Council present National Theatre Live’s ‘Hamlet’

Published

21 hours ago

2026/01/21

Thilina Walpola

Ceylon Theatres Limited, in partnership with British Council, is proud to present the first ever screening of National Theatre (NT) Live’s Hamlet starring Hiran Abeysekara in Asia. The first screening will happen at Regal Cinema in Dematagoda (Colombo 9) at 5:30 pm on Sunday, 25 January. Sri Lankan actor Hiran Abeysekera stars in the title role—the first Asian actor to play Hamlet in a National Theatre production.

For Sri Lankan audiences, this screening is both a celebration and a homecoming. It reflects the British Council’s long-standing commitment to nurturing creative talent, widening access to world-class culture, and building deep, people-to-people connections between Sri Lanka and the United Kingdom through theatre and the creative arts. To celebrate the inaugural screening, the British Council is inviting winners and runners-up of the All-Island Inter-School Shakespeare Drama Competition, alongside drama teachers and university actors, to attend the premiere.

Further details on screening dates, venues, and ticketing can be found at: https://ceylontheatres.com/ and on the British Council Instagram page https://www.instagram.com/britishcouncilsrilanka/ or call: 0766192370